Russian banks have reported lower rates followed the key rate of the Central Bank

© RIA Novosti / Natalia to Seliverstova in photobacteria Central Bank of Russia. Archival photoRussian banks have reported lower rates followed the key rate of the Central Bank© RIA Novosti / Natalia to Seliverstova the image Bank

Russian banks have responded to the decision of the Bank of Russia to reduce the key rate to 9% per annum some banks have lowered their rates the day before, part of a plan to do so in the near future, the survey of credit institutions conducted by RIA Novosti.

The Bank of Russia on Friday cut the key rate to 9% from 9.25% per annum, although many analysts had expected reduction rate at once on 0,5 percentage points. Before this year, the regulator has managed twice to reduce the key rate in March by 0.25 percentage points in April to 0.5 percentage points.

Past Friday the reduction of the key rate of the Central Bank was generally predictable, the Vice-President, Director of retail business development «Post Bank» VTB group Grigory Babadzhanyan. «Mail Bank» will routinely continue to optimize the cost of passive and credit products,» he said.

The trend in the decline

«Bank «Opening» in the near future plans significant reduction in interest rates on all loan products and will offer some of the most competitive and profitable credit conditions in the market of a mortgage from 10%, refinancing, and cash loans of 11.9%,» stated RIA Novosti Executive Director of retail products of the Bank Anton Safonov.

Bank «St.-Petersburg» in connection with the lowering of the key rate of the Central Bank to 9% per annum considering the possibility of reducing interest rates on standard mortgage loans in the primary and secondary real estate markets, said Director of retail business of the Bank Marina Gorilovsky.

The reduction of the key rate of the Central Bank by 0.25 percentage points — not a significant change, it will be considered in the future, but right now will not entail big changes in credit products «Tinkoff Bank», noted in this credit institution.

«We are studying the situation on deposits and settlement maps, and may in the future decide to lower rates. «Tinkoff Bank» constantly revises the loan rates for existing customers who have long and successfully use our products and for new customers. In particular, we will soon run the campaign, in which we will issue a credit card with a rate of 15% per annum on purchases,» said the Bank.

On the market, indeed, there has been a steady trend to lower interest rates on loans. This contributes to the reduction of the key rate of the Central Bank, which equals banks, noted in a press-Bank service «the Russian standard».

«Bank «Russian Standard» is closely monitoring the market and follows the emerging trends of lower rates after market. So, from July 1, in order to improve credit conditions, the Bank reduces the rate on POS-loans in the average by 2.5 percentage points,» the Bank said.

«Credit card Bank reduces interest rates for both new and specific segments of existing customers. The reduction usually amounts to a few percentage points. It should be noted that this process is not associated directly with the reduction of the key rate, and is conducted with the aim of improving product availability and maintain a competitive proposal,» added the Bank.

«On deposits made planned repricing savings accounts and increased Deposit. It was not associated directly with a reduction in rates, but the size of the new rates, of course, influenced the change in the key rates including», — reported in the city Bank, also noting that he has no plans to change interest rates on loans.

Alfa-Bank has no plans now to cut rates immediately after a key rate of the Central Bank. «We are not planning to cut rates on deposits. Regarding credit, the Bank is now offer one of the best deals in the market from to 11.99 % per annum without collateral and guarantees», — said the press service of the Bank.

The largest Bank of the Crimea, RNCB last week reduced interest rates on all credit products for small business customers. The average cost of credit decreased by 1.5 – 2 percentage points, and in some credits – up to 4 points. The Bank also recently reduced rates on lending of construction in Crimea of housing up to 11% per annum for all owners of salary cards of the Bank.

Also there was a decrease mortgage rates, troops to 10.9% per annum in the framework of preferential program «mortgage for military», the Bank said. «RNCB intends to monitor the situation on the financial market and does not exclude the possibility of further reducing interest rates on some credit products,» — said in MCB.

Raiffeisenbank Friday following the reduction of the key rate of the Central Bank announced that lowered the mortgage rates on the mortgage loans in the primary and secondary markets, as well as for the refinancing program. From 14 June, the minimum rate of Bank loan for the purchase of apartments in new buildings and the secondary market is 10.99% per annum for refinancing of 10.9%.

The maximum reduction rates occurred on the mortgage program in the secondary market and refinancing program. From 11.5% for both programs it dropped to 10.99% and 10.9%, respectively. For loans in the primary market, the Bank lowered the rate to 10.99%. But in the case of purchases of new housing number of builders customers can apply for the loan at a rate of 10.5% and 10.4% depending on the partner, said Raiffeisenbank.

The reaction of the major players in the

Gazprombank also said Friday that lower interest rates on basic products mortgage lending up to 9.5% per annum.

While Sberbank and VTB have already reduced interest rates on loans earlier in June.

So, the savings Bank since 1 June has lowered rates on construction housing and 5 June lowered all the basic rates on mortgages, the best offer from the Bank on the mortgage for young families is 9.5%, which is historically the lowest rate, noted in early June, the head of the Bank Herman Gref. According to him, this is not the limit and the rates will continue to decline.

VTB group from 7 June has reduced mortgage rates to 10%, the total decline in mortgage rates VTB24 and retail business of VTB Bank amounted to 0.75 percentage points for finished housing and 0.4 percentage points for new buildings. VTB intends to lower the rate on mortgage loans, probably until the end of the year she will fall below 10%, told RIA Novosti in early June, member of the management Board of the Bank Vladimir Verkhoshansky.

But the savings Bank from 19 June launched a campaign with reduced interest rates on consumer credit to refinance with a discount of 1 percentage point.

Source

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